Avant Credit Card summary
Pros
- No security deposit required
- Available to individuals with little credit history
- Reports to all three major credit bureaus
Cons
- Comes with an annual fee
- No rewards program
Editorial score
Fees and rates
No annual fee with APR or 0% APR with annual fee
Eligibility (credit score)
Accepts all credit types
Security
FDIC/NCUA insured, SSL/AES encryption and supports 2 factor and biometric authentication
Customer service
Multiple ways of reaching agent, wide range of hours
Online experience
Excellent site and app with detailed FAQs, help center, and transparency of rates and features
Overview
The Avant credit card is designed to help individuals with poor credit or little credit history build up their credit score. There is no security deposit required, and you don’t need a cosigner to apply for the card.
The card offers a credit limit from $300-$500 to help you more easily pay off your balance each month. In addition, Avant reports your on-time payments to the three major credit bureaus so that your credit can rise over time.
Suitable for?
The main reason to use the Avant credit card is to build up your credit. If you have little or no credit history or damaged credit, you can use the Avant credit card to establish a history of on-time payments. It can be particularly helpful for college students or other individuals who are building their credit for the first time.
The Avant credit card also stands out for how easy it is to manage. You can make payments and review your transactions 24/7 from an online dashboard or the Avant mobile app. There are no hidden fees, and you’re not responsible for unauthorized charges that result from fraud. If you travel, the Avant credit card comes with zero foreign transaction fees.
Interest Rates and Fees
The Avant credit card comes with an annual fee of $59. There are no foreign transaction fees or any other hidden fees. If you are late making a payment, Avant can charge a late fee of up to $59. The credit card comes with an interest rate of 24.99% (variable).
Annual Fee | Foreign Transaction Fee | Late Fee | APR |
$59 | $0 | Up to $39 | 24.99% (variable) |
Rewards & Cashback
The Avant credit card doesn’t offer a rewards program or introductory offer at this time.
The Application Process
You can apply for the Avant credit card online.
To get started, you’ll need to enter some basic personal information, including your name, address, email, and social security number. You’ll also have to consent to a soft credit check. If you qualify, Avant will offer you an annual fee and APR. Once you accept the offered terms, Avant will mail you your card within 7-10 days.
Help & Support
You can contact Avant’s customer support team by phone or email from 7am-10pm (CT) Monday to Friday or 7am-8pm Saturday and Sunday. Avant also has a detailed FAQs page where you can find answers to common questions about the credit card.
Phone call hours: 7am-10pm (CT) Monday-Friday; 7am-8pm Saturday and Sunday.
Security
Avant uses bank-level SSL (Secure Socket Layer) encryption to secure your credit card application. The Avant credit card comes with an EMV chip for transaction security.
You’re not responsible for unauthorized transactions resulting from fraud and you have access to identity monitoring and a fraud resolution team.
FAQ
Does Avant offer autopay?
Yes, you can set up autopay for your Avant credit card to automatically pay your minimum due or your total statement balance.
Can I request a credit increase?
Avant offers credit lines of up to $3,000. You can request a credit increase through your Avant dashboard after 6 months of use.
What happens if I lose my Avant credit card?
You can call Avant to deactivate your card if it is lost or stolen. You are not responsible for fraudulent charges on your card.
Conclusion
The Avant credit card can help individuals with little or no credit history build up their credit. The card doesn’t require a cosigner or security deposit. You can get a credit line between $300 to $500 and easily manage your card from the Avant web dashboard or mobile app.
Methodology
This review is based on the Avant website, online application, and terms sheet for the Avant credit card.
Michael Graw is a Bellingham, Washington-based writer focusing on finance, tech, and science. His work has been featured in print magazines and high-impact websites. He writes for BestMoney and enjoys helping readers make sense of the options on the market.
